DBS signs cross-referral agreements with crowdfunding platforms to expand loans to SMEs

DBS Bank has signed cross-referral agreements with peer-to-peer (p2p) lending platforms Funding Societies and MoolahSense, it announced on April 19. DBS said it is the first Singapore bank to collaborate with such lending platforms to further expand funding sources available to small businesses. Under the partnership, DBS will refer some of the smaller businesses that it is unable to lend to, to Funding Societies and MoolahSense, said the bank in a statement.